LG Electronics

What does LG Electronics own?
LG Electronics owns the LG brand of home appliances (refrigerators, washing machines, dishwashers, air conditioners), televisions (OLED, QNED), and B2B solutions. The company operates sub-brands including LG ThinQ (smart home platform), LG gram (laptops), LG InstaView (refrigerators), and LG webOS (smart TV operating system). The Vehicle Component Solutions division produces infotainment systems, displays, and battery management systems for automotive manufacturers. LG Electronics exited the smartphone market in April 2021.

Is LG Electronics publicly traded?
Yes, LG Electronics is publicly traded on the Korea Exchange under ticker 066570. LG Corporation, the parent company, holds a controlling stake through cross-shareholding arrangements. The Koo family, descendants of founder Koo In-hwoi, maintains control of LG Corporation and its subsidiaries. William Cho serves as CEO. The company reports under K-IFRS and files annual and quarterly reports with the Korea Exchange.

Who founded LG Electronics?
LG Electronics was founded in 1958 by Koo In-hwoi as GoldStar, the electronics manufacturing arm of Lak-Hui Chemical Industrial Corporation (later LG Corporation). Koo had established Lak-Hui in 1947 as a cosmetics and chemical products company. GoldStar was created to expand into electronics manufacturing, producing Korea's first radios, televisions, refrigerators, and washing machines. The company was renamed LG Electronics in 1995.

Where is LG Electronics headquartered?
LG Electronics is headquartered in Seoul, South Korea. The company's headquarters, known as LG Twin Towers, is located in the Yeouido district of Seoul. LG Electronics operates manufacturing facilities in South Korea, the United States, China, Vietnam, Brazil, Poland, Mexico, and India. The company sells products in over 150 countries through retail channels, direct sales, and B2B contracts.

Does LG still make smartphones?
No, LG Electronics exited the smartphone market in April 2021 after six consecutive years of losses in its mobile communications division. The decision affected approximately 2,300 employees. LG had been an early smartphone innovator, producing devices with unique features including modular designs and rotating displays, but was unable to compete with Samsung and Apple in the premium segment and Chinese manufacturers in the budget segment. The company committed to providing Android updates for certain existing models for up to three years.

Who owns LG Electronics?
LG Electronics is a publicly traded company listed on the Korea Exchange (ticker: 066570). LG Corporation, the parent company, holds a controlling stake through cross-shareholding arrangements typical of Korean chaebols. The Koo family, descendants of founder Koo In-hwoi, maintains control of LG Corporation and its subsidiaries, including LG Electronics, LG Display, LG Chem, and LG Energy Solution. William Cho serves as CEO of LG Electronics.

What is LG Electronics' revenue?
LG Electronics reported consolidated revenue of KRW 89.2 trillion (approximately $67 billion) in FY2025, a record for the second consecutive year. Operating profit was KRW 2.48 trillion. The Home Appliance and Air Solution division generated KRW 33.3 trillion, Home Entertainment generated KRW 16.3 trillion, Vehicle Component Solutions generated KRW 11.9 trillion, and Business Solutions generated KRW 5.6 trillion. B2B revenue reached KRW 24.1 trillion, with combined operating profit from vehicle solutions and business solutions exceeding KRW 1 trillion for the first time.

LG Electronics was founded in 1958 as GoldStar by Koo In-hwoi, who had established Lak-Hui Chemical Industrial Corporation (later LG Corporation) in 1947. GoldStar was created as the electronics manufacturing arm of the Lak-Hui group. The company initially produced radios, televisions, refrigerators, washing machines, and air conditioners, becoming one of South Korea's first electronics manufacturers.

In 1962, GoldStar became the first Korean company to export radios to the United States, marking its entry into international markets. The company benefited from South Korea's export-oriented industrialization strategy, which supported domestic manufacturers in building international distribution networks.

Throughout the 1960s and 1970s, GoldStar expanded its product range and manufacturing capacity. The company produced Korea's first telephone, first refrigerator, first washing machine, and first air conditioner. GoldStar also began producing consumer electronics for international brands under OEM (original equipment manufacturer) agreements, which provided revenue and manufacturing experience.

In 1995, the company rebranded from GoldStar to LG Electronics, adopting the "Life's Good" slogan. The rebranding was part of a broader consolidation of the Lak-Hui group under the LG brand. The new brand identity was designed to support global expansion and position the company as a premium electronics manufacturer rather than a budget brand.

The 1990s and 2000s were a period of rapid global expansion. LG Electronics established manufacturing facilities and sales offices across Asia, Europe, North America, and South America. The company pioneered several innovations, including the world's first 60-inch plasma TV (1998), the first CDMA digital mobile phone (1997), and the first Internet refrigerator (2000). LG became one of the top three global manufacturers of home appliances and televisions.

In the 2010s, LG invested heavily in OLED television technology, becoming the primary manufacturer of OLED TV panels globally. LG Display, a separate LG Group company, supplies OLED panels to LG Electronics and other TV manufacturers. LG's OLED TVs became the reference standard for premium television picture quality.

The smartphone business was a persistent challenge. LG was an early smartphone innovator, producing devices with unique features including modular designs (G5), dual screens (V series), and rotating displays (Wing). However, the company struggled to compete with Samsung and Apple in the premium segment and with Chinese manufacturers in the budget segment. After six consecutive years of losses in the mobile division, LG announced its exit from the smartphone market in April 2021. The closure affected approximately 2,300 employees and marked the end of LG's 24-year mobile phone business.

Following the smartphone exit, LG redirected resources to growth areas. The Vehicle Component Solutions division expanded rapidly, securing contracts with automotive manufacturers including General Motors, Mercedes-Benz, and Stellantis for infotainment systems, displays, and battery management systems. The division's revenue grew from KRW 7.8 trillion in 2020 to KRW 11.9 trillion in 2025. The B2B business, including commercial displays, solar panels, and data center cooling systems, also expanded.

In FY2025, LG Electronics reported record revenue of KRW 89.2 trillion, with B2B revenue reaching KRW 24.1 trillion. The company's subscription-based business model, which offers home appliances as a service rather than a one-time purchase, expanded to multiple markets. The Vehicle Component Solutions division achieved its first annual operating profit exceeding KRW 1 trillion, demonstrating the success of the post-smartphone diversification strategy.

LG Electronics has published science-based emissions reduction targets through the Science Based Targets initiative (SBTi). The company has committed to carbon neutrality by 2030 for Scope 1 and 2 emissions and a 90 percent reduction in Scope 3 emissions by 2050. LG has invested in renewable energy, including solar power installations at manufacturing facilities in South Korea, the United States, and India.

The company's product sustainability initiatives include energy-efficient appliance designs, recyclable packaging, and take-back programs for electronic waste. LG operates recycling programs in multiple countries and has set targets for using recycled materials in new products. The company's OLED TVs are designed with fewer components than traditional LCD TVs, reducing material usage.

However, LG's sustainability reporting has been criticized for limited third-party verification of supply chain emissions. The company's manufacturing operations in China, Vietnam, and other countries involve supply chain emissions that are difficult to verify independently. The electronics industry also faces inherent challenges related to the use of conflict minerals, hazardous chemicals, and end-of-life electronic waste.

LG's labor practices in manufacturing facilities have been generally well-regarded compared to some competitors, but the company has faced isolated incidents. In 2021, LG was fined KRW 1.1 billion by the South Korean government for violating labor laws at its home appliance factory in Changwon, including excessive overtime and inadequate rest periods.

LG Electronics has faced several controversies and regulatory challenges.

In 2025, LG Electronics agreed to pay $6.5 million to settle a class-action lawsuit in the United States alleging that certain LG refrigerators manufactured between 2018 and 2023 had defective compressors that caused cooling failures. The settlement covered repair costs and extended warranties for affected customers.

The company has faced product safety issues with its refrigerators. In 2020, LG recalled approximately 60,000 refrigerators in South Korea due to a fire risk caused by defective condensers. Similar recalls occurred in other markets. The company has also faced recalls of washing machines and air conditioners in various markets due to safety concerns.

LG's exit from the smartphone market in 2021 affected approximately 2,300 employees and raised questions about the company's commitment to software updates for existing devices. LG committed to providing Android updates for certain models for up to three years, but some customers reported inadequate support.

The chaebol structure of LG Group has been subject to regulatory scrutiny in South Korea. The Korean government has implemented policies to improve corporate governance at family-controlled conglomerates, including requirements for independent directors and transparency in cross-shareholding arrangements. LG has complied with these regulations but the fundamental structure remains in place.

In 2023, LG Electronics faced a patent infringement lawsuit from Samsung Display related to OLED technology. The case was settled out of court, but it highlighted the competitive tensions between the two Korean electronics giants in the display market.